MGP Ingredients, Inc. (NASDAQ:MGPI) Given Average Rating of “Moderate Buy” by Analysts

Shares of MGP Ingredients, Inc. (NASDAQ:MGPI) have been given a consensus rating of “Moderate Buy” by the five research firms that are currently covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $75.83.

A number of brokerages recently commented on MGPI. StockNews.com raised MGP Ingredients from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Loop Capital set a $75.00 target price on shares of MGP Ingredients in a research report on Friday, October 18th. Lake Street Capital downgraded MGP Ingredients from a “buy” rating to a “hold” rating and decreased their price target for the stock from $135.00 to $75.00 in a report on Friday, October 18th. Roth Mkm cut their price target on shares of MGP Ingredients from $65.00 to $60.00 and set a “buy” rating on the stock in a report on Monday. Finally, Truist Financial decreased their price objective on shares of MGP Ingredients from $85.00 to $75.00 and set a “buy” rating for the company in a research note on Friday, November 1st.

Insider Activity at MGP Ingredients

In other MGP Ingredients news, Director Lori L.S. Mingus sold 7,050 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $46.03, for a total transaction of $324,511.50. Following the sale, the director now directly owns 37,373 shares of the company’s stock, valued at $1,720,279.19. This represents a 15.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 36.20% of the stock is owned by company insiders.

Institutional Trading of MGP Ingredients

Hedge funds and other institutional investors have recently modified their holdings of the business. Farther Finance Advisors LLC increased its position in shares of MGP Ingredients by 45.3% during the third quarter. Farther Finance Advisors LLC now owns 597 shares of the company’s stock valued at $50,000 after buying an additional 186 shares during the period. Louisiana State Employees Retirement System lifted its holdings in shares of MGP Ingredients by 2.6% during the 2nd quarter. Louisiana State Employees Retirement System now owns 7,900 shares of the company’s stock worth $588,000 after acquiring an additional 200 shares during the last quarter. First Horizon Advisors Inc. increased its position in shares of MGP Ingredients by 73.5% during the 3rd quarter. First Horizon Advisors Inc. now owns 760 shares of the company’s stock valued at $63,000 after purchasing an additional 322 shares during the last quarter. Park Avenue Securities LLC lifted its holdings in shares of MGP Ingredients by 19.4% in the 3rd quarter. Park Avenue Securities LLC now owns 3,378 shares of the company’s stock worth $281,000 after acquiring an additional 549 shares during the last quarter. Finally, Innealta Capital LLC purchased a new position in shares of MGP Ingredients in the second quarter worth about $42,000. Institutional investors own 77.11% of the company’s stock.

MGP Ingredients Price Performance

Shares of MGPI opened at $39.85 on Thursday. The firm has a market cap of $874.83 million, a PE ratio of 8.28, a price-to-earnings-growth ratio of 0.74 and a beta of 0.63. MGP Ingredients has a 52-week low of $38.65 and a 52-week high of $102.42. The business’s 50 day moving average price is $48.90 and its two-hundred day moving average price is $69.72. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.94 and a current ratio of 6.46.

MGP Ingredients (NASDAQ:MGPI) last released its earnings results on Thursday, October 31st. The company reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.02. The company had revenue of $161.50 million for the quarter, compared to the consensus estimate of $161.55 million. MGP Ingredients had a net margin of 14.44% and a return on equity of 14.39%. MGP Ingredients’s quarterly revenue was down 23.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.34 EPS. On average, equities analysts anticipate that MGP Ingredients will post 5.57 EPS for the current year.

MGP Ingredients Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were paid a dividend of $0.12 per share. The ex-dividend date was Friday, November 15th. This represents a $0.48 annualized dividend and a dividend yield of 1.20%. MGP Ingredients’s payout ratio is currently 9.98%.

MGP Ingredients Company Profile

MGP Ingredients, Inc, together with its subsidiaries, engages in the production and supply of distilled spirits, branded spirits, and food ingredients in the United States and internationally. The company operates through three segments: Distillery Solutions; Branded Spirits; and Ingredient Solutions.